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The AUD/USD pair has risen 0.2% to 0.7110 during Asian trading hours, driven by hawkish comments from RBA Governor Michele Bullock. The Australian Dollar (AUD) is outperforming peers as market participants anticipate tighter monetary policy from the Reserve Bank of Australia. Governor Bullock's remarks suggest potential rate hikes or prolonged high rates, which could support the AUD's upward momentum. Traders are closely watching the 0.7150 level as a key resistance target, with a breakout potentially signaling sustained bullish momentum. For forex traders, this development is significant as it reinforces the AUD's appeal in a tightening monetary policy environment. A sustained move above 0.7150 could attract more speculative buying and trigger technical buy signals. Conversely, a failure to hold above current levels might lead to renewed bearish pressure. The RBA's policy trajectory remains a critical factor for AUD/USD volatility in the near term. MENA investors should monitor RBA policy statements and economic data from Australia, as these will shape the AUD's trajectory. The pair's performance could also influence Gulf-based forex traders with exposure to the Australian Dollar. Key watchpoints include the RBA's next meeting minutes and inflation data releases, which may confirm or challenge the hawkish narrative.
